Open interest in GBP futures markets shrunk for the third session in a row on Thursday, this time by just 293 contracts as per advanced data from CME Group. Volume, instead, rose by almost 41.8K contracts, extending the erratic performance.
GBP/USD risks further downside
Cable accelerated its correction lower on Thursday on the back of a dovish BoE. The lack of a clear direction in volume along with irrelevant figures from open interest in past sessions opens the door for some consolidation in the near term although a deeper retracement to sub-1.2800 levels should not be ruled out.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.